5 March 2015

Smart Money March/April 2015


Welcome to the latest issue of Smart Money, in which we provide an informed insight that extends across both the financial planning and the tax calendar as we enter a very important time of the year.

With the biggest pension reforms in a lifetime rapidly approaching on 6th April 2015, are you ready for how these reforms could potentially affect you, whether now or in the future? The wide media coverage that followed the 2014 Budget announcements, and which we covered in our newsletters in the second half of 2014, talked of pensions in the future being used as bank accounts and new pension freedoms leading to long waiting lists for Lamborghinis. On page 04 we look at what pension freedom could mean to you.

It’s vital to know why you’re investing. The first step is to have a good think about your financial situation and your reasons for investing. But whatever your personal investment goal may be, you need to consider your time horizon at the outset. On page 10 we consider why it makes sense to revisit your investment goals at regular intervals to account for any changes to your personal circumstances.

If you are keen to take advantage of the New Individual Savings Account (NISA) allowance, now increased to £15,000, and make the most of your tax-efficient savings, time is running out. You only have until 5th April 2015 to fully utilise your 2014/15 NISA allowance, after which it will be lost forever. Find out more on page 09.

Tax planning is a very complex area covering many forms of tax. No one likes paying more tax than they legally have to but one of the challenges of wealth is the high taxation it attracts. For some individuals the need for specialist professional advice has never been greater. With the current tax year end rapidly approaching, on page 08 we’ve provided some tax planning areas for you to consider before 6th April 2015.

The full list of the articles featured in this issue appears on page 02.

We hope you enjoy reading this issue, by clicking on the link below.  To discuss your financial planning requirements, or to obtain further information, please contact us at our Swansea office on 01792818483 or email us at info@portfolio.org.uk

Smart Money March and April 2015